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20120906
20120906
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printing spree here in the united states, printing anywhere from 2.4 trillion to $2.7 trillion in order to buy up bonds, including a lot of government debt directly. they say, hey look, so far we don't have inflation so there is no harm in it. to what you say? >> 2% inflation as opposed to a greater level of inflation, there is such a panic in europe that everybody was racing out of the europe into the dollar. holding dollars the fed created instead of spending them same in the united states. because of the economic situation in the united states, many people are using dollars they receive, indeed some printed by the fed to repay debt inset of consume. the whole idea we're not cooking inflation in the oven in the long run is a false idea. the key to the gold standard and going forward to a modernized gold standard it is a prescription for long-term economic growth. under the gold standard the american economy grew at 4% compounded annually, from the birth of the republic practically up until 1971. whereas the economy under the federal reserve's quantitative easing in the last decade has
Search Results 0 to 0 of about 1